09:24:17 EDT Sat 15 Jun 2024
Enter Symbol
or Name

West Fraser Timber Co Ltd
Symbol WFG
Shares Issued 81,273,936
Close 2023-01-24 C$ 104.51
Market Cap C$ 8,493,939,051
Recent Sedar Documents

Globe says West Fraser, Canfor see U.S. tariffs rise

2023-01-25 07:47 ET - In the News

Also In the News (C-CFP) Canfor Corp
Also In the News (C-RFP) Resolute Forest Products Inc

The Globe and Mail reports in its Wednesday edition that the U.S. Department of Commerce plans to raise tariffs for Canada's two largest lumber companies, while lowering duties on most other Canadian producers. The Globe's Brent Jang writes that based on the Commerce Department's preliminary assessment, the combined countervailing and anti-dumping duties will rise for West Fraser Timber and Canfor. West Fraser faces having to pay a new duty rate of 9.38 per cent, likely taking effect by August or September, compared with its current tariff of 8.25 per cent. Canfor will see its tariff climb to 7.29 per cent for Canadian softwood sold in the United States, compared with the current 5.87 per cent. Saint John-based J.D. Irving Ltd., which recently ranked as Canada's fifth-largest lumber producer, has been assessed a higher rate of 7.77 per cent, compared with the current 7.17 per cent. However, most other producers in Canada will see their duty rates decline to 8.24 per cent from the current 8.59 per cent. Resolute Forest has a current tariff of 14.86 per cent, but it will be included in the group of Canadian producers with the revised rate of 8.24 per cent. The 2006 Canada-U.S. softwood agreement expired in 2015.

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